Jump to content
House Price Crash Forum

Recommended Posts

Was at my workmates bbq earlier and overheard his young brother in-law talking to his dad about buying and mentioned he could barely afford it, then he mentioned "but property could crash".

It was nice and freshing to hear this, and for people listening to agree.

Times sure are changing.

Link to post
Share on other sites
Was at my workmates bbq earlier and overheard his young brother in-law talking to his dad about buying and mentioned he could barely afford it, then he mentioned "but property could crash".

It was nice and freshing to hear this, and for people listening to agree.

Times sure are changing.

This is the type of thing that would alert me that something is about to happen. I have heard people, talking about the possibility of a crash more often this year than in previous years. Talk of a crash this time last year would have been met with laughter in my circles. I think that the media are playing a part in putting doubts about house prices in peoples minds. There are nearly as many bearish afeatures as bullish now.

There are still a lot of people out there though who think that property prices only go up though.

Link to post
Share on other sites
The one similarity that struck me very recently was the pay £99 and move in all fees paid and free carpets, I remember this from the last time just before the whole thing fell apart.

They have been doing this since I started home hunting 6 years ago. When have newbuilds ever not offered incentives?

Link to post
Share on other sites
They have been doing this since I started home hunting 6 years ago. When have newbuilds ever not offered incentives?

There have always been incentives, particularly towards the end of the developers financial year.

My best mate's brother has bought 3 or 4 new build houses and sold them within a year or 2 for a massive profit. He started this well before prices went crazy ;) How? he bought at the end of a developers financial year, normally December, and got good discounts and the property fully carpeted....with the best carpets.

Link to post
Share on other sites
In NI in the last 2 years we have witnessed people camping out for weeks to get their hands on a "release of new builds" - demand was so high for these apartments that builders didnt need to offer incentives - they just increased the prices. Currently in Ormeau St Belfast the going price for apartments is about 350k for a small flat and you are bound not to sell for at least 18 months.

In Port Stewart - the Cannes of the North - you could pay 500k for an apartment with a sea view.

Can't wait for things to change dramatically over here.

I've just seen on New24 there are lost of flats in Bristol,Wales and Worcestershire with sea views this morning, I don't think that was the developers intention. <_<

Link to post
Share on other sites
The one similarity that struck me very recently was the pay £99 and move in all fees paid and free carpets, I remember this from the last time just before the whole thing fell apart.

Ooh we have loads of adverts for that very thing in our local rag. There is a development in North Shields that will pay your fees, fit your carpets and let you move in for £99.

Phoney

Link to post
Share on other sites
Guest Yeahbutnocrash
This is the type of thing that would alert me that something is about to happen. I have heard people, talking about the possibility of a crash more often this year than in previous years. Talk of a crash this time last year would have been met with laughter in my circles. I think that the media are playing a part in putting doubts about house prices in peoples minds. There are nearly as many bearish afeatures as bullish now.

There are still a lot of people out there though who think that property prices only go up though.

This is not exactly earth-shattering news following all the HPI properties are so over-priced and IR's have been on the way up so prices may well soften until it's clear where IR's are going

I agree it shows people really do read their papers & watch the telly

Edited by Yeahbutnocrash
Link to post
Share on other sites

My zeitgeist story:

Last night, while weighing up the relative merits of a lamb bhuna and chicken rogan jhosh in the local curry house, I overheard (it wasn't difficult) a loud, braying media sort talking about his mate Chris Evans. Once he'd stopped gushing over his radio show formats, he said to his dinner partner "If I could have the perfect life I'd sort out this house I'm trying to buy and live happily ever after in it. It's going my way, though, with the market crashing around our ears and everything".

I suddenly found him much less irritating.

Link to post
Share on other sites
Guest grumpy-old-man
They have been doing this since I started home hunting 6 years ago. When have newbuilds ever not offered incentives?

we have a double page spread in the wakey express this weekend with "Summer Sale" ................2 pages of "Reduced"....h'mmm......

Desperate EA's imo

you can save the image then open up with window picture & fax viewer (unless you have something better to use), then you can zoom in as my camera has great resolution. :rolleyes:

Link to post
Share on other sites
I've just seen on New24 there are lost of flats in Bristol,Wales and Worcestershire with sea views this morning, I don't think that was the developers intention. <_<

I was brought up in Portstewart and it certainly wasn't anything like Cannes then!!!!!!!!!

Link to post
Share on other sites

Was having a chat with a consultant at work recently who was inquiring about my rental status, when I mentioned my reservations about buying, he came out with the beauty : "I think prices will crash", despite never having shown an interest, and having no VI either way with a nice 3 bed detached and no plans to MEW or move

Some would say that this random opinion means nothing to a potential HPC, but for someone with no real knowledge of house prices and bubbles, its hugely significant that the herds now get used to the idea of prices falling

The sheeple mentality took us up, and it will take us back down again

Edited by Nick..
Link to post
Share on other sites

Someone I share my office with, an older colleague, has known I've been waiting for a crash and they always entertained my theories with a slightly condescending smirk. Fairly recently they bought a house with a pretty big mortgage. Over coffee the other day with a group of us I was talking about negative equity and the colleague looked quite sheepish.

That grinning 'it'll never happen, it only goes up' response is getting rarer and rarer.

Link to post
Share on other sites
That grinning 'it'll never happen, it only goes up' response is getting rarer and rarer.

The fundamental injustice of it all though, is this: It has been socially acceptable to ridicule housing bears, to gloat over cap gains and to treat renters by choice as social lepers. When the shoe is on the other foot, it won't be acceptable for bears to do the same.

We will have to keep our "told you so" gloating and knowing smirks to ourselves. <_<

Link to post
Share on other sites
we have a double page spread in the wakey express this weekend with "Summer Sale" ................2 pages of "Reduced"....h'mmm......

Desperate EA's imo

you can save the image then open up with window picture & fax viewer (unless you have something better to use), then you can zoom in as my camera has great resolution. :rolleyes:

Nice post. Definitely worth the click through to the image.

Thanks - made my day.

Link to post
Share on other sites
Guest vicmac64
I was brought up in Portstewart and it certainly wasn't anything like Cannes then!!!!!!!!!

It'll be more like Beirut at the end of this crash - and rub it up the snobs... By the way I own my own property outright but I keep my head down and I'm not fussed on the snobby classes that seem to have descended on my favourite part of NI - it used to be a great place but now I just stay away from the North Coast as they are a bunch of tossers just ripe for a good crash.

Link to post
Share on other sites

I over heard someone at work last week saying his estate agent friend has talked him into buying a 1 bed flat for a 100kish, he cannot afford it on his own so his parents are getting the mortgage and he's going to pay them back! I asked him if he thought it was a good idea to buy at the peak of the market and explained about interest rates, sub-prime mortgages etc etc, but he says his estate agent friend says prices wil keep on rising indefinately and that there is never a bad time to buy.

His life I suppose.

Link to post
Share on other sites
I over heard someone at work last week saying his estate agent friend has talked him into buying a 1 bed flat for a 100kish, he cannot afford it on his own so his parents are getting the mortgage and he's going to pay them back! I asked him if he thought it was a good idea to buy at the peak of the market and explained about interest rates, sub-prime mortgages etc etc, but he says his estate agent friend says prices wil keep on rising indefinately and that there is never a bad time to buy.

His life I suppose.

His parents life and a fair old chunk of their pension more like. :huh:

How does the whole parents buy it on a mortgage and child repays work? As surely the child will need to repay any payments the parents made later and meet the then current payments, sounds like an American style graduated payment mortgage.

Edited by b0rk
Link to post
Share on other sites
This is the type of thing that would alert me that something is about to happen. I have heard people, talking about the possibility of a crash more often this year than in previous years. Talk of a crash this time last year would have been met with laughter in my circles. I think that the media are playing a part in putting doubts about house prices in peoples minds. There are nearly as many bearish afeatures as bullish now.

There are still a lot of people out there though who think that property prices only go up though.

I think your right about people only thinking that prices only ever go up,They do go up in the long term but as in the 90s there was a long period 10 years of stagnation and falling prices.

A workfriend of mine bought a house in 1990 and did not see any price growth ontill 2001.

People soon forget these periods of price depression and are sadly reminded when they are suffering beause of high repayments or reprossession.

Buying at the peak of the HPI cycle could mean years of paying unnecessary high mortgage payments and with negative equity provents them from moving up the ladder for years.

Link to post
Share on other sites
The fundamental injustice of it all though, is this: It has been socially acceptable to ridicule housing bears, to gloat over cap gains and to treat renters by choice as social lepers. When the shoe is on the other foot, it won't be acceptable for bears to do the same.

We will have to keep our "told you so" gloating and knowing smirks to ourselves. <_<

f*ck that I will never stop taking the p1ss I'll have t-shirts printed and hand out business cards saying

Ha told you d1ck head :)

Link to post
Share on other sites
we have a double page spread in the wakey express this weekend with "Summer Sale" ................2 pages of "Reduced"....h'mmm......

Desperate EA's imo

you can save the image then open up with window picture & fax viewer (unless you have something better to use), then you can zoom in as my camera has great resolution. :rolleyes:

Wakefield prices are well and truly mental, like for like it's definitely more expensive than Birmingham. I mean, £130k for a house on Kettlethorpe or Lupset is just ludicrous. They're decent enough ex council houses, nice size and usually good gardens but what's the use of that when you're most likely never more than 5 doors from a drug dealer.

My uncle has just been trhough a divorce and his ex is selling their house, 2 up 2 down mid terraced on Flanshaw bought for £17k in about 1987, initially priced up at £150k now at £140k last time I lokked. Been on the market for a good 8 months but no takers yet. Good for me as I had a bet with my old fella it wouldn't sell within 12 months without at least a 10% price drop.

Link to post
Share on other sites
f*ck that I will never stop taking the p1ss I'll have t-shirts printed and hand out business cards saying

Ha told you d1ck head :)

It's all very well having an "I told you it would crash 2013" t-shirt - but what about the "I told you it wouldn't 2004, 2005, 2006, 2007....." :lol:

Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
  • Recently Browsing   0 members

    No registered users viewing this page.



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.